The leaders of the 20 major economies failed to back a U.S. plan intended to push China to let its currency strengthen. The leaders released a statement saying all the countries pledged to avoid “competitive devaluation” of currencies, The Associated Press said.
Governments usually institute competitive devaluation — the sudden reduction in the value of a currency — only during a crisis. As a…
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G-20 Leaders Fail to Back U.S. Plan on Chinese Currency originally appeared on DailyFinance on Fri, 12 Nov 2010 06:49:00.
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